image credit- shutterstock
Kilitch Drugs Limited, BSE and NSE listed, a leading pharmaceutical company specialising in the manufacturing and distribution of high-quality Parenteral, Injectables, Oral Solids, and Effervescent formulations, has received approval from board to raise around Rs 49.92 crore via rights issue.
In its board meeting, the Board of Directors finalised the Rights Issue of 13,98,463 fully paid-up equity shares of face value Rs 10 each at an issue price of Rs 357 per share (including a premium of Rs 347 per share). Under this Rights Issue, eligible shareholders will receive 2 Rights Equity Shares for every 23 fully paid Equity Shares held.
The issue is expected to raise Rs 4,992.51 lakh (Rs49.92 crore), which will be utilised to strengthen the company’s balance sheet, support growth initiatives - the upcoming greenfield project at Pen, Maharashtra, and meet general corporate purposes.
The Issue will open on Wednesday, July 23, 2025, and close on Thursday, August 21st, 2025, with the last date for market renunciation on Monday, August 18th, 2025.
Mukund Prataprai Mehta, Managing Director, Kilitch Drugs, said, “This Rights Issue is designed to reward our loyal shareholders with an attractive opportunity to participate in the company’s growth journey. The proceeds will help us expand our pharmaceutical offerings, enhance operational efficiencies, and unlock greater value for our stakeholders. With our greenfield project expansion and entry into regulated markets, we are confident of scaling our operations towards achieving our revenue targets in the coming years.”
